Social Security

Does That Social Security Email About Form W-2 Filing Changes Really Exist

Does That Social Security Email About Form W-2 Filing Changes Really Exist. Many businesses recently received an email with a header raising concerns about accessing Business Services Online (BSO) Employer Services and the approaching deadline for wage reporting. The email urged recipients to “Act Now! Time is Running Out!” This has prompted some taxpayers to question its authenticity.

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Table of Contents

Taxpayer First Act

Several years ago, the IRS introduced regulations mandating electronic filing for information returns when a taxpayer files 250 or more in a calendar year. The Taxpayer First Act, enacted in 2019, aimed to modernize and improve the IRS. Section 2301 of the Act reduced the threshold for mandatory electronic filing from 250 to 10, a provision applicable for returns filed on or after Jan. 1, 2024.

Changes in Electronic Filing Threshold

The IRS recently issued final regulations officially reducing the electronic-filing threshold to 10 for returns required to be filed on or after Jan. 1, 2024. Information returns, such as Forms 1099 and W-2, reporting tax information (not necessarily tax due), are affected by these changes.

W-2 Filing Requirements

Employers must file W-2 forms with the Social Security Administration (SSA) and the IRS by Jan. 31 following the tax year. For Tax Year 2023, wage reports must be filed with the SSA by Jan. 31, 2024.

Business Services Online (BSO) Changes

To file electronically with the SSA using BSO, businesses now need additional security measures. The prior BSO UserID and password are no longer valid; instead, a Social Security Online account, Login.gov, or ID.me credential is required. Registration is necessary, and if you lack the proper credentials, you won’t be able to access essential services.

Registration and Webinars

The SSA recommends allowing at least two weeks for the registration process. An email was sent out to notify businesses of this change, emphasizing the urgency to register to meet the filing deadline. SSA will host virtual webinars on BSO’s new access and registration process on Dec. 6, Dec. 13, and Dec. 18, 2023, to assist businesses.

Support and Assistance

For additional support, SSA provides a toll-free line and an email address to address employer inquiries. Virtual webinars are also scheduled to guide businesses through the new access and registration process.

Forms 1099 Filing

For those needing to file Forms 1099, the IRS offers a free online portal called the Information Returns Intake System (IRIS). This portal is especially helpful for small businesses currently submitting paper 1099 forms to the IRS.

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Conclusion

The recent email regarding changes in Form W-2 filing processes is genuine. As the IRS implements electronic filing adjustments, businesses must promptly register on the updated BSO platform to ensure compliance with the new regulations and avoid potential filing delays.